China to invest in major construction projects in Africa

Posted on : Tuesday , 24th November 2015

Chinese firm Henan International Cooperation Group under the jurisdiction of Henan province is set to invest in major construction projects in Nigeria. This follows a meeting between Henan commissioner Mr. Jiao Jinmiao and Cross River State Governor Ben Ayade in Chinese city of Zhengzhou.

Among the planned investments includes constructing a power plant, warehouses, an industrial city where cars, car accessories, spare parts would be manufactured and a distribution centre in the state. In addition are plans to build ultramodern infrastructures in the States are also discussed.

Mr. Jiao Jinmiao also disclosed plans to lead a delegation of over one hundred companies to the state with the aim of these companies setting up their companies in the State, he also expressed the plan of the company to assist and partner with the State Government in some of its most important sectors in the State.

Based on this development, the Cross River State Government has signed a Memorandum of Understanding (MoU) with some Chinese firms through the China Machinery and Engineering Corporation (CMEC) with the aim of making Calabar the first smart city in Nigeria also discussed plans to make Calabar the first 4G smart city in Nigeria.

The Memorandum of Understanding MoU to invest in major construction projects in Nigeria was signed by Prof Ben Ayade on behalf of Cross River State while the vice president of CMEC Mr. Wang Qingxin, signed on behalf of his organization. The agreement was signed at the China Machinery and Engineering Corporation (CMEC) corporate headquarters in Beijing, China.

Source : constructionreviewonline.com

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